The Challenge of Public Pension Reform in Advanced and Emerging Economies / Benedict Clements, David Coady, Frank Eich, Sanjeev Gupta, Alvar Kangur, Baoping Shang, Mauricio Soto.

Format:

Book

Government document

Author/Creator:

Clements, Benedict.

Contributor:

Coady, David.

Eich, Frank.

Gupta, Sanjeev.

Kangur, Alvar.

Shang, Baoping.

Soto, Mauricio.

International Monetary Fund.

Series:

Occasional Papers; Occasional Paper No 2013/001

Occasional Papers

Language:

English

Subjects (All):

Developed countries--Economic conditions.

Developed countries.

Developing countries--Economic conditions.

Developing countries.

Physical Description:

1 online resource (86 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2013.

Summary:

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.

Contents:

Cover; Contents; Preface; Acronyms; Country Abbreviations; 1. Overview; 2. Overview of the Current Pension Landscape; Public Pension Systems Include Old-Age, Survivor, and Disability Benefits; Boxes; 2.1. Pension Systems: Pay-As-You-Go versus Funded; Figures; 2.1. Composition of Public Pension Spending, 2007; 2.2. Characteristics of Mandatory Pension Plans; 3. Historical Trends in Public Pension Expenditures; Pension Spending Has Risen in Advanced Economies, Albeit at a Slower Pace Recently; Public Pension Spending Has Also Increased in Emerging Market Economies, but from a Lower Base

3.1. Old-Age Dependency Ratio in Advanced and Emerging Market Economies3.2. Evolution of Public Pension Expenditures in Advanced Economies; 3.3. Evolution of Public Pension Expenditures in Emerging Market Economies; 3.4. Pension Spending, Replacement Rates, and Aging, 2010; 4. Recent Pension Reform Initiatives; In Advanced Economies Reform Was Mostly Parametric; The Crisis Slowed the Transition to Funded Pensions in Emerging Europe; Other Emerging Market Economies; 5. The Outlook for Public Pension Spending

Projected Increases in Pension Spending Are Substantial in Many Advanced and Emerging Market EconomiesEnacted Reforms Hold Down the Impact of Population Aging on Spending; Numerous Risks to the Projections; 5.1. Increase in Pension Spending, 2010-30; 5.1. Projecting Public Pension Spending; 5.2. Projected Evolution of Public Pension Expenditures, 2010-30; 5.3. Cumulative Cost of Pension Spending Increases; 5.2. Key Demographic Trends up to 2050 and Uncertainty; 5.4. Current and Projected Replacement Rates and Pension Eligibility in Advanced Economies

5.5. Funding of Private Defined Benefit Pension Plans, 20096. Considerations for Pension Reform; Fiscal Consolidation; Equity; Economic Growth; 6.1. Pension Systems and Generational Imbalances; 6.1. Projected Changes in Pension Replacement Rates and At-Risk Poverty Rates of the Elderly, 2010-50; 7. Pension Reform Options; Most Advanced Economies Face the Double Challenge of High Debt and Rising Age-Related Spending; Gradually Raising the Statutory Retirement Age Is an Attractive Reform Option; 7.1. Pension Spending in 2010 and Age-Related Spending Increases, 2010-30

7.2. Trade-offs Across Reform Options to Stabilize Spending, 2010-307.1. The Retirement Age and Unemployment; 7.3. Increase in Male Life Expectancy at Age 60 versus Enacted Increase in Pensionable Age for Men, 2010-30; Increasing Revenues Could Also Help Offset Increases in Pension Spending; Emerging Europe Should Start by Placing Public Pensions on a Sound Financial Footing; 7.4. Payroll Tax Yield in Advanced Economies, 2008; Increasing Pension Coverage in an Affordable Way Is a Key Challenge in Emerging Market Economies outside Europe; Tables; 7.1. Recent Pension Policy in Eastern Europe

7.5. Pension Coverage (Pensioners to Population above Retirement Age) in Emerging Market Economies

Notes:

Description based upon print version of record.

Description based on publisher supplied metadata and other sources.

ISBN:

9781475544770

1475544774

9781475566314

147556631X

OCLC:

867110326